This is one recent paper, but with this and other personnel details (eg. Fed governors attending the last few "A Very Stable Conferences", ex-Fed people working at Circle / doing stablecoin startups) you can infer that the Fed is more pro-stablecoin than you think.
Why? Cross-border payments are hard, CBDCs are unpopular / politically infeasible, and Fedwire takes up a ton of balance sheet capacity (etc).
This is one recent paper, but with this and other personnel details (eg. Fed governors attending the last few "A Very Stable Conferences", ex-Fed people working at Circle / doing stablecoin startups) you can infer that the Fed is more pro-stablecoin than you think.
Why? Cross-border payments are hard, CBDCs are unpopular / politically infeasible, and Fedwire takes up a ton of balance sheet capacity (etc).